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Posts Tagged increasing revenue

A simple way to work out how much you need to sell to hit your revenue targets

I was with a client recently and they shared how much money they wanted to be able to take out of the business in the long term. So what we needed to do was some maths to work out how to get there. And here is what we did. I’m going to make up the figures to preserve anonymity. They ultimately wanted to be able to take £5000 a month from the business. Stage 1 – identify current revenue and profit margins 1. Identify current annual revenue (sales or turnover) 2. Identify the net profit (the amount left over after […]

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Eight factors that increase value in your business

For your company to be valuable or even sellable there’s a lot more to consider than just the bottom line such as will your customers continue buying or will a competitor start chipping away at your margins? It’s important to understand what drives up or undermines your company value. And there’s a way to find out – using the Sellability Score. ‘The Sellability Score was created by a team of researchers led by John Warrillow, author of the international bestseller Built to Sell: Creating A Business That Can Thrive Without You. The book inspired a movement of entrepreneurs who recognize […]

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How to sell the way your customers want to buy

One of the key questions we ask our clients when we work with them is ‘ What business are you in?’  Most people will tell us they are the thing they sell, so for example, this week, I had ‘a financial adviser’, ‘an events planner’, ‘an accountant’, and ‘a sales trainer’. But is that really what the customer is buying? The customer using the financial adviser may be looking for help to ensure they can retire with no money worries, or the customer using the events planner may be trying to organise a surprise 50th birthday party so will be […]

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Do you know how much more business you could get from your customers?

I’m sorry if that sounds quite a mercenary question, but it’s meant with the best intentions. Not only for you and your business, but also, and as importantly, for your customers. The cost of getting new customers In business, we spend a lot of effort and money trying to get new customers, sales people are rewarded for bringing new customers into the business and probably the largest proportion of our marketing spend goes on trying to acquire new business rather than keeping the customers we’ve got, let alone thinking about how to grow our business with these customers. We’ve seen all […]

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